A Democratic Election Sweep Would Be Great for the Economy
Economic outlook is decidedly bearish on Republicans and weakest under scenario in which Trump and Republicans sweep Congress and fully adopt their economic agenda
#Vote #VoteBidenToSaveAmerica motherjones.com/kevin-drum/202…
Economic outlook is decidedly bearish on Republicans and weakest under scenario in which Trump and Republicans sweep Congress and fully adopt their economic agenda
#Vote #VoteBidenToSaveAmerica motherjones.com/kevin-drum/202…
If Trump wins— it is not until first half of 2024 that economy returns to full employment…unemployment remains persistently higher…labor force participation rate that never fully recovers to its pre-pandemic highs…real after-tax income does not change much during Trump’s term
Economy suffers in Trump’s second term, as we expect he’ll double down on foreign trade/immigration policies.
The significant increase in tariffs during Trump’s first term—from tariff rate of 1.5% when he took office to over 6% gave a tax increase on U.S. economy, hurting U.S. manufacturers, transportation companies, and farmers in particular. More of the same is expected if Trump wins
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